The mail service said parcel volumes grew 2.6 per cent, but the segment’s revenues fell seven per cent year over year, as it faced more competition and as customers increasingly used rate-shopping platforms that help find the best shipping prices at a given time. (The Logic)

Talking point: Increased competition drove down revenue in all its lines of business, Canada Post said, but it is making investments to improve its service and tracking capabilities. The parcel segment, which makes up about half of the service’s revenue, has struggled for some time. Last quarter, revenue increased slightly, but volumes fell by nearly eight per cent. In 2022, Canada Post felt the impact of softening e-commerce trends and ongoing supply chain disruptions as its parcels revenue decreased by $99 million and volumes dropped about 20 per cent.